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Vermont's Department of Banking, Insurance, Securities and Health Care Administration has changed its name to the Department of Financial Regulation. The department has retained its Web address and contact details.

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Vermont in 1981 implemented its captive-insurer statute, and the state has since become the third-largest captive domicile internationally and the largest in the US. The state's 589 captives put it behind Bermuda and the Cayman Islands, said Sandy Bigglestone of the Vermont Department of Financial Regulation.

Vermont's governor is expected to sign a bill directing state health care regulators to keep track of drugs that have seen significant price increases and ask the drugs' manufacturers to justify the price hikes.

A measure that makes minor revisions to Vermont's captive-insurance law has received Gov. Peter Shumlin's signature. The law will allow the incorporation of protected cells by mutual and nonprofit corporations as well as create a trust approved by state regulators to help captives comply with minimum capital and surplus requirements.

More Vermont companies are depending on their captive insurers for their cyber-risk insurance programs, according to David Provost of the state Department of Banking, Insurance, Securities and Health Care Administration. Companies in other domicile states, such as those in the financial sector, are still exploring such an option, experts said. "Folks are always a little bit hesitant to get their captives involved in something that's brand new or emerging, especially if it could have high volatility,” said Steve Bauman of Zurich North America.

Vermont Assistant Attorney General Bridget Asay told the Supreme Court that Vermont's law restricting pharmacies from selling prescription information to marketers allows drugmakers to sell their products as they choose while protecting prescribers' privacy. Justice Ruth Bader Ginsburg questioned whether the law was meant to encourage the use of generic drugs by restricting brand-name manufacturers' speech.